Amsterdam-based Cawa, a leading API infrastructure provider for carbon accounting and ESG platforms, has announced the successful raising of €500K in a recent funding round. This capital infusion will support Cawa’s mission to facilitate the sale of transparent, high-quality carbon credits.
The funding round was led by Shamrock Ventures, with additional participation from Golden Egg Check Capital and several seasoned angel investors. Tommy Hurley, managing partner at Shamrock Ventures, emphasized the importance of Cawa’s innovative approach: “Cawa’s unique software and transparency are crucial to build trust in the carbon credit market. We are excited to support Cawa in their mission to help remove megatons of CO2 from the atmosphere.”
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Addressing Market Challenges
Cawa’s entry into the Voluntary Carbon Market (VCM) is timely, as the market plays a critical role in meeting Paris Agreement goals through investments in reforestation and carbon removal projects. However, the VCM faces challenges, including market opacity, ineffective carbon credits, and difficulties in communicating climate contributions. Up to 85% of climate financing is diverted to intermediaries, and many carbon credits do not guarantee CO2 removal.
Innovative Solutions for Traceable Climate Action
Founded in 2022 by Kees van Santen, Cawa offers a software platform that provides access to traceable carbon credits through an API. This platform allows companies to integrate the purchase of transparent, high-quality carbon credits, enabling stakeholders to monitor the financing and impact of their climate contributions with full transparency. The API also links transactions to individual customers, employees, or other stakeholders, ensuring accountability and clarity.
Cawa’s APIs are already in use across the Netherlands, the UK, Denmark, and Spain, demonstrating the platform’s growing influence and effectiveness.
Utilization of Funds
Kees van Santen, co-founder of Cawa, expressed confidence in the support from investors: “This funding round demonstrates investors’ belief in the necessity of a transparent voluntary carbon market with high-quality carbon credits. Our goal is to support as many good climate projects as possible by helping them secure funding. With this investment, we can assist more companies in responsibly purchasing carbon credits and developing climate projects.”
About Shamrock Ventures
Shamrock Ventures is a €10M pre-seed and early-stage impact fund that invests in technology companies aiming to generate social and environmental impact. The fund focuses on sectors such as the circular economy, cleantech, sustainable mobility, and food & agritech. Shamrock Ventures supports founders by providing initial professional capital and offering operational and technical expertise to help scale their ventures.
With this substantial investment, the startup is well-positioned to enhance its platform and expand its impact, driving significant advancements in the carbon credit market and contributing to global sustainability efforts.
